Portability of the Spousal Estate Tax Exemption
Dear Mr. Premack: My father’s estate value is approximately $350,000, and my mother’s is approximately $650,000. Father passed away in April 2012 and mother inherits his property, so she will have estate of approximately $1,000,000. She is healthy and we hope to have many more years with her. We believe her estate value will increase over time because it is mostly valuable real estate. Although my father’s estate has no taxes due, should we file in order for my mother to make